The news slammed cryptocurrency prices. Bitcoin was hit about 12%, dropping from around $15,500 to eventually hitting a bottom of $13611, according to Coindesk. Ethereum was hit about 8% in the aftermath of the news.

Despite wide popularity among the Korean public, there have been increasing concerns that Korea’s exchanges are insecure. Last week, one of the most prominent Korean cryptocurrency exchanges, Youbit, collapsed following a $35 million hack earlier this month. That was after a $72 million hack on the exchange in April.